A Deep Dive into Ministry of Skill Development & Entrepreneurship Schemes, Initiatives & India Skills
A Deep Dive into Ministry of Skill Development & Entrepreneurship Schemes, Initiatives & India Skills
INDEX
Introduction
Do you know that 93% of employers define soft skills as essential or very important?
Whether soft or technical, skills are important traits and attributes for success in a workplace. It is crucial to develop transferable skills that can make you competitive in your workplace. Comprehending relevant skills, their development and their importance can help you constantly improve them for professional and personal growth. The development of skills can be considered crucial because it allows you to improve qualities and attributes vital to effective workplace performance. By the development of these skills, you can also begin your path to personal development which can help in the maximisation of your potential while achieving your career goals in record time. In addition to this, by the development of specific skills, you can naturally fit them into your routine and utilise them to better yourself while improving talents and strengths, find fulfilment and satisfaction and advance in your career.
Your skills usually involve traits or qualities that you possess or those that you can acquire and learn through education and training. While these skills differ based on individual objectives, some skills that are relevant irrespective of the industry include:
- Communication skills
- Interpersonal skills
- Organisational skills
- Problem-solving skills
- Self-confidence
- Adaptability
- Integrity
- Work ethic
- Leadership
MSDE or Ministry of Skill Development and Entrepreneurship
According to statistics, 97% of employers say that soft skills are key to business success or growth.
MSDE or the Ministry of Skill Development and Entrepreneurship is a ministry of the Government of India which came into existence on the 26th of May in the year 2014 after the formation of the first Modi ministry under the premiership of Shri Narendra Modi. This particular ministry is responsible for the coordination of all skill development efforts across India. The ministry was basically formed with matters pertaining to apprenticeship, and industrial training along with other skill development responsibilities which earlier belonged to the Ministry of Labour and Employment. This ministry aims to remove the disconnect between supply and demand of skilled manpower, to build innovative thinking and new skills not only for existing jobs but also for jobs that need to be created.
The MSDE or Ministry of Skill Development and Entrepreneurship is headed by the Minister of Skill Development and Entrepreneurship and is sometimes assisted by the minister of state for the same who is a junior minister in the ministry. The ministry is in charge of facilitating and providing initiatives for skill development and training infrastructure with the following institutions:
- Director general of training
- NSDC or National Skill Development Corporation
- NSDA or National Skill Development Agency
- NSDF or National Skill Development Fund
- NIESBUD or National Institute of Entrepreneurship and Small Business Development
Government Schemes for Skill Development
Do you know that 55% of the CFOs agreed that the greatest challenge of hiring professionals in accountancy is how to choose a candidate with the right soft skills?
- Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
PMKVY or Pradhan Mantri Kaushal Vikas Yojana which is also known as Pradhan Mantri Youth Training Program is an initiative for skill development of the Government of India for standardisation and recognition of skills. The aim of the PMKVY scheme is the encouragement of aptitude towards employable skills while increasing the working efficiency of existing and probable daily wage earners through the provision of monetary awards and rewards and by the provision of quality training to them.
- Skill India Mission
Skill India can be considered an initiative by the government of India in 2015 to train over 40 crore Indians in various industry-related jobs. The vision of the program is the creation of an empowered workforce by 2022 with the help of various training courses and schemes. A part of the Skill India Mission is to cater to Indian skill development through a result-oriented framework which corresponds to the requirements of the industry.
Entrepreneurship initiatives
Do you know that 96% of people who are self-employed have no desire to go back to a regular job?
Start-up India
The Start-up India scheme can be considered a crucial government scheme which was launched on 16th January 2016 and aims to support and promote the startups in India by the provision of banking and other financial services to them. It was inaugurated by Arun Jaitley, the former finance minister. Organised by the Department of Promotion of Industry and Internal Trade, the major objective of Start-up India is to discard some of the restrictive policies of state government which include:
- License Raj
- Land permissions
- Proposals for foreign investments
- Environmental clearances
Standup India
The scheme of Standup India aims at providing people belonging to the SC or SCT or women of the country a loan between Rs. 10 Lakh to Rs. 1 crore based on their needs. This scheme aims to promote entrepreneurship among them. Under this particular scheme, 1.25 lakh bank branches would be expected to lend money every year to at least one tribal or Dalit entrepreneur and one entrepreneur in their service area. This scheme was launched by the prime minister Shri. Narendra Modi in April of 2016 encouraged women or SCs or STs to become entrepreneurs by loaning them a sum of money to initiate a business.
Conclusion
Did you know 88% of self-employed professionals focus on smaller and more integrated services?
In conclusion, it can be stated that skill development is a crucial part of one’s own advancement as well as career aspirations. Skill development is important for the improvement of professional and personal growth. Skill is generally traits that one possesses such as communication, interpersonal, self-confidence, integrity, work ethic and so on. MSDE can be considered the apex ministry for skill development in India. Schemes such as PMKVY and Skill India mission are some of the programs which are effectively responsible for skill development in the Indian landscape.